iShares S&P Global Telecom
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2017E    2018E
P/E
ratio
14.1x P/Sales
ratio
1.3x
P/BV
ratio
1.9x Div.
yield
4.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P Global Telecommunications Sector Index Fund seeks investment results that correspond to the performance of the S&P Global Telecommunications Index.

FUND BASICS
Category Sector ETFs
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Nov 16, 2001
Assets (mns) $328
Currency USD
Expense ratio 48 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Co
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 30
Wgt avg mkt cap (mns) $110,289
Large cap (>$10bn) 99.0%
Mid cap ($2-10bn) 1.0%
Small cap (<$2bn) 0.0%
Developed mkts 97.1%
Emerging mkts 2.9%

TOP TEN HOLDINGS
AT&T INC 17.8 %
VERIZON COMMUNICATIONS INC 15.3 %
VODAFONE GROUP PLC 6.1 %
SOFTBANK CORP 5.6 %
NIPPON TELEGRAPH & TELEPHONE 5.1 %
DEUTSCHE TELEKOM AG-REG 4.7 %
CHINA MOBILE LTD 4.6 %
KDDI CORP 4.0 %
TELEFONICA SA 3.9 %
BCE INC 3.5 %
Total 70.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 35.2 %
JAPAN 17.1 %
BRITAIN 8.7 %
CANADA 5.0 %
GERMANY 4.7 %
HONG KONG 4.6 %
SPAIN 3.9 %
FRANCE 3.1 %
AUSTRALIA 2.9 %
SINGAPORE 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
4.7% 1.5% 5.8% 3.3% 4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.65 34%
MSCI EAFE 0.63 49%
MSCI Emg. Mkts. 0.44 41%

Technical Indicators
Recent close $59.70
30d moving avg. $60.09
Annualized volatility 11.3%
Short interest (ETF) 0.3%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.4%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $5,245

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares S&P Global Telecom ETF based on the alternatives' overlap in portfolio holdings with IXP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IXP Expense: 48 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IXP
Ticker Fund
Name
Overlap1
vs IXP
(%)
Expense
ratio
(bp)
Savings
vs IXP
(bp)
ALTAR
Score™
(%)
ALTAR
vs IXP
(%)
FCOM Fidelity Telecomm 35.2 12 36 3.6 -3.8
VOX Vanguard Telecom Service ETF 35.2 10 38 -0.3 -7.7
IYZ iShares Dow Jones Telecom 22.7 45 3 1.5 -5.9
NFRA FlexShares STOXX Global Broad Infrastructure 18.2 47 1 5.9 -1.5
FDL First Trust Morningstar Dividend Leaders 14.2 45 3 6.6 -0.8
HDV iShares High Dividend 13.0 12 36 6.1 -1.3
DOO WisdomTree Int'l Dividend Ex-Financials 11.5 58 -10 6.4 -0.9
DDBI Legg Mason Developed Ex-US Diversified Core 10.4 40 8 5.8 -1.5
SGQI Janus SocGen Global Quality Income 10.3 45 3 5.8 -1.6
RDIV RevenueShares Ultra Dividend 10.3 49 -1 9.2 +1.8
DTH WisdomTree DEFA Equity Income 9.4 58 -10 6.9 -0.4
DOL WisdomTree Int'l Large Cap Dividend 9.3 48 0 6.7 -0.6
WUSA WisdomTree U.S. Domestic Economy 8.8 33 15 6.8 -0.5
WBIY WBI Power Factor High Dividend 8.7 67 -19 9.9 +2.5
VIGI Vanguard Int'l Dividend Appreciation 8.3 25 23 5.8 -1.6
MOTI VanEck Vectors Morningstar Int'l Moat 8.2 56 -8 6.7 -0.6
AXJL WisdomTree Asia Pacific Ex-Japan 8.0 48 0 9.1 +1.8
JPEU JPMorgan Diversified Return Europe Equity 7.9 43 5 5.8 -1.6
RYU Guggenheim S&P Equal Weight Utilities 7.8 40 8 5.5 -1.9
CID Victory CEMP International High Div Volatility Wtd 7.7 45 3 6.9 -0.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2012 2013 2014 2015 2016 2017E 2018E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2016 2017E 2018E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
iShares S&P Global Telecom
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores between 6.0% and 8.0%. This indicates that valuations adequately reflect the fundamentals of stocks in these funds. The majority of funds we cover fall into this category.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.56
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.